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Explain the following terms as used in decision analysis.
a) Decision making under risk versus uncertainty.
b) Decision trees versus probability trees.
c) Minimax versus maximax criterion.
d) Pure strategy versus mixed strategy games.
e) Games with more than two persons versus non zero-sum games
Date posted:
January 23, 2019
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An urban cable television company is investigating the installation of cable TV system in urban areas. The engineering department estimates the cost of the system (in present worth Sh.) to be Sh. 7 million. The sales department has investigated four pricing plans. For each pricing plan, the marketing division has estimated the revenue per household in present worth Sh. to be:
Date posted:
January 23, 2019
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A trust officer for a major banking institution is planning the investment of a USD 1 million family trust for the
coming year. The trust officer has identified a portfolio of stocks and another group of bonds that might be
selected for investment. The family trust can be invested in stocks or bonds exclusively, or a mix of the two.
This trust officer prefers to divide the funds in increments of 10 percent; that is, the family trust may be split
100 percent stocks /0 percent bonds, 90 percent stocks /10 percent bonds, 80 percent stocks /20 percent
bonds, and so on.
The trust officer has evaluated the relationship between the yields on the different investments and general
economic conditions. Her judgment is as follows:
1) If the next year is characterized by solid growth in the economy, bonds will yield 12 percent and stocks
20 percent.
2) If the next year is characterized by inflation, bonds will yield 18 percent and stocks 10 percent.
3) If the next year is characterized by stagnation, bonds will yield 12 percent and stocks 8 percent.
a) Formulate a payoff table where payoffs represent the annual yield, in dollars, associated with the
different investment strategies and the occurrence of various economic conditions
b) Determine the optimal investment strategy using the max-max, max-min, Hurwicz (
),
equally likely, and regret criteria.
c) Suppose that a leading economic forecasting firm projects P(solid growth)= 0.4, P(inflation)=0.25,
and P (stagnation)= 0.35. Use the expected value criterion to select the appropriate strategy.
d) What is the expected value with perfect information?
Date posted:
January 23, 2019
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The following table is a payoff table for a particular venture.
Required:
a) Determine the decision alternative that maximizes expected payoff.
b) Determine expected value under certainty.
c) What is the expected value of perfect information?
Date posted:
January 23, 2019
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The following is a payoff table for a particular venture.
Determine the optimal decision using:
a) Max-min criterion.
b) Max-max criterion.
c) Min-max regret criterion.
d) Maximum expected payoff (assuming equal likelihood of states of nature).
Date posted:
January 23, 2019
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Explain the contribution of Egyptian education to human civilization.
Date posted:
January 23, 2019
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Explain the aims of Education in Egypt.
Date posted:
January 23, 2019
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Explain the factors that led to civilization in ancient Egypt.
Date posted:
January 23, 2019
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State the objectives of education of early man.
Date posted:
January 23, 2019
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State three distinct features that rank man higher than other animals.
Date posted:
January 23, 2019
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Discuss the importance of studying History of education.
Date posted:
January 23, 2019
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Define the term History of Education.
Date posted:
January 23, 2019
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State and explain the branches of economics.
Date posted:
January 21, 2019
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Discuss the Nigerian war of 1967 to 1970.
Date posted:
January 21, 2019
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A screen is placed 80cm from an object. A lens is used to produce on the screen an image with a magnification of 3. What is the distance between the object and the lens? Calculate the focal length of that lens.
Date posted:
January 21, 2019
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Explain ways in which computers can be used in the transport industry.
Date posted:
January 20, 2019
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A computer laboratory experiences power supply problems. Describe three power related problems that should be addressed.
Date posted:
January 20, 2019
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Describe three arithmetic errors that may occur during computerized data processing.
Date posted:
January 20, 2019
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State six reasons why a Christian should donate blood.
Date posted:
January 20, 2019
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Give six reasons why the church in Kenya is opposed to cloning.
Date posted:
January 20, 2019
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Outline the importance of children in both Christianity and traditional African communities.
Date posted:
January 20, 2019
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Eleza maudhui ya kifo katika riwaya ya chozi la heri?
Date posted:
January 20, 2019
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Explain why adenine and thymine have double bond while cytosine and guanine have triple bond.
Date posted:
January 20, 2019
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Name the cradle land of the eastern cushites
Date posted:
January 19, 2019
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Read the item below and then answer questions after it.
We shall surely see the sun shine soon.
a)Identify the genre above.
.........................................
b)Identify two sound patterns that have been used in the genre.
Date posted:
January 18, 2019
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Differentiate between point and arc elasticity of demand.
Date posted:
January 16, 2019
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What is the usefulness of the concept of elasticity in economics?
Date posted:
January 16, 2019
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A farmer is advised to apply 60 kg N, 20 kg P205 and 30 kg K20 per hectare. Calculate the quantity of urea (46% N), single super phosphate (20% P205) and muriate of potash (50% K20) the farmer should apply on his l0 hectares land. (5 marks)
Date posted:
January 15, 2019
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Describe nine Ways in which biotic factors influence agricultural production.
Date posted:
January 15, 2019
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Explain five methods that the government may use to increase supply of goods in the market.
Date posted:
January 15, 2019